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    Renovated Office Retail Storefront Title is generated by Realmo AI

    431 Hempstead Ave, West Hempstead, NY 11552

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    New
    For Lease
    $3,313/Mo $22 SF/Yr (calc)

    Move-in ready suite with bright windows, custom interiors, and private parking with added basement space.

    Type:Commercial
    Property size:
    1,736 SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 5:49 am

    Property Features for 431 Hempstead Ave

    General Information

    Standard status
    Active
    Size
    1,736 SF
    Property subtype
    Commercial

    We can help!

    Listing Contact
    Nathan M. Kamara
    Nathan M. Kamara

    Listing agent Nathan M. Kamara

    Listing office Keller Williams Realty of Greater Nassau

    Listing date Jun 3, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty of Greater Nassau

    HighLights

    • Approximately 1,136 SF office/retail storefront with a basement of approximately 600 SF featuring 8‑ft ceilings
    • Recently fully renovated interior from floors to ceilings with custom built‑in cabinets and displays
    • Includes a large reception area, 3 private offices (one large conference room), bathroom, kitchenette, and copy room
    • High ceilings and huge windows for a very bright interior
    • 12‑car private parking lot on‑site
    • About 0.7 miles to the Long Island Rail Road station

    Overview

    This fully renovated office/retail storefront is currently configured with a very large reception area, three private offices (including one larger office suitable for conference use), a bathroom, a kitchenette, and a copy room. The build-out includes custom built-in cabinets and displays, along with a speaker system, and the renovation was completed from floors to ceilings. The space is described as very bright, with huge windows and high ceilings. In addition to the approximately 1,136 square feet on the main level, it includes an approximately 600-square-foot basement with 8-foot ceilings.

    The property offers a 12-car private parking lot and is listed as approximately 0.7 miles from the Long Island Rail Road station. WalkScore and transitScore are provided in the remarks, supporting that the area is accessible for visitors and employees.

    With its reception-driven layout and multiple enclosed offices, the suite is a practical fit for professional office users who want a retail-style storefront presence. The added basement area with 8-foot ceilings can support operational storage or back-of-house workspace, depending on how an operator wants to run the day-to-day.
    Location Intelligence

    Current Use by Public Records

    Pryde Contracting of Long ... Construction Company Brew & Epstein LLP Law Firm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.6531396
    Latitude
    40.6978567

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    FAQs

    What type of property is this?
    Office units - Move-in ready suite with bright windows, custom interiors, and private parking with added basement space.
    Where is this office units located?
    The property is located at 431 Hempstead Ave West Hempstead, NY.
    What is the lease rate?
    The lease rate is $3,313 /Mo.
    What are key features of this property?
    This property features: Approximately 1,136 SF office/retail storefront with a basement of approximately 600 SF featuring 8‑ft ceilings; Recently fully renovated interior from floors to ceilings with custom built‑in cabinets and displays; Includes a large reception area, 3 private offices (one large conference room), bathroom, kitchenette, and copy room
    (516) 424-1404
    We can help!
    Listing Contact
    Nathan M. Kamara
    Nathan M. Kamara
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    431 Hempstead Ave, West Hempstead, NY 11552
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